I don’t have enough information to make an accurate call on the issues between the SEC and Goldman Sachs, but it appears from this ABC News article that my broad thoughts on the issue are pretty common all around lower Manhattan. There needs to be two sides to every trade:
Kevin McPartland, senior analyst at TABB Group, a New York-based financial services research and advisory firm, said he didn’t learn much new in the hearings.
“Congress and Wall Street don’t see eye to eye,” he said. “Institutional traders are smart, well-informed people, yet someone is on each side of every trade with an opposing view. If not then we wouldn’t have capital markets.”